ICBSD Blog

[vc_row][vc_column][vc_custom_heading text=\”SBA issues guidance on PPP lending\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The Small Business Administration issued two interim final rules on Paycheck Protection Program requirements. One interim final rule focuses on loan review procedures and related borrower and lender responsibilities, such as SBA reviews of individual PPP loans, what lenders should review, and lender fees subject to clawback if SBA determines

[vc_row][vc_column width=\”5/6\”][vc_custom_heading text=\”ICBA Letter Regarding Additional Covid-19 Response Resources\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] To our Bank Members: Today, ICBA sent a letter to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Minority Leader McCarthy. In the letter ICBA urge Congress to take the recommendations outlined in the letter into consideration for inclusion in the next legislative package

[vc_row][vc_column][vc_custom_heading text=\”SBA Procedural Notice \” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The Small Business Administration just released long-sought guidance on submitting the initial SBA Form 1502 for Paycheck Protection Program loans. Lenders are required to submit the form to report on PPP loans and collect the processing fees on fully disbursed loans. In a new Procedural Notice, the SBA lays out how

[vc_row][vc_column][vc_custom_heading text=”Loan Forgiveness Letter & Workbook ” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text]As reported last Friday, the Small Business Administration released the Application Forgiveness for loans made under the Paycheck Protection Program. To assist you and your borrowers in the process of calculating and documenting loan forgiveness ICBSD has prepared a complimentary loan forgiveness workbook for your use. In addition

[vc_row][vc_column][vc_custom_heading text=”Temporary Extensions Granted For Driver License Expiration Dates” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text] FOR IMMEDIATE RELEASE: Wednesday, April 1, 2020 CONTACT: Tony Mangan, Public Information Officer, 605-280-5648 Temporary Extensions Granted For Driver License Expiration Dates PIERRE, S.D. – Gov. Kristi Noem has signed legislation that gives the Department of Public Safety Cabinet Secretary the authority to order the temporary extension

[vc_row][vc_column width=\”2/3\”][vc_custom_heading text=\”A Guide for Pandemic Response – Return to the New Normal\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The Independent Community Bankers of America has compiled a guide which provides suggestions to help community banks when resuming more normal operations and person-to-person services. Every community bank will have its own circumstances driven by local pandemic conditions, state guidance, business requirements,

[vc_row][vc_column][vc_custom_heading text=\”Community banks make more than half of PPP 2.0 loans: SBA\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The SBA said lenders have made 2.2 million loans worth more than $175 billion during the second round of the Paycheck Protection Program, for an average loan size of roughly $79,000. Loans of $50,000 and under made up nearly 71 percent of all